ARBE vs ED: Correlation
Measured on weekly returns over the past three years, Arbe Robotics Ltd. (ARBE) and Consolidated Edison (ED) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARBE and ED?
Across a 3-year window, the weekly returns of ARBE and ED correlate at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.27 over 3. Stretching to 5 years gives -0.12, with an annualized covariance of -396.5 %².
ED is close to the least connected end of ARBE's tracked universe, ranking #12 of 14. Their recent paths diverged sharply: over the last 12 months ED outperformed by 62.3 percentage points (-52.1% for ARBE against +10.2% for ED). Note the risk asymmetry: ARBE runs 5.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ARBE vs ED: side by side
| ARBE (Arbe Robotics Ltd.) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | -52.1% | +10.2% |
| 5-year return | -93.4% | +67.5% |
| Volatility (ann.) | 87.7% | 16.5% |
| Beta vs S&P 500 | 2.41 | -0.21 |
| Max drawdown (3Y) | -86.1% | -17.4% |
| Market cap | $0.1B | $39.5B |
| P/E (trailing) | – | 17.5 |
| Dividend yield | 0.00% | 3.22% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | ARBE | ED |
|---|---|---|
| 2022 | -63.3% | +15.7% |
| 2023 | -36.1% | -1.1% |
| 2024 | -14.7% | +1.5% |
| 2025 | -36.6% | +15.1% |
| 2026 | -43.6% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARBE and ED good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARBE and ED?
The ARBE/ED correlation stands at -0.27 on a 3-year window (1 year: -0.21, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is ED a good diversifier for ARBE?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arbe-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/arbe-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARBE correlations · ED correlations
